Born in Nazareth, Israel to a Greek father and a Lebanese mother, Tom Gores’ family moved to Genessee, MI when he was just four. After earning a bachelor’s degree at Michigan State University, he joined his brother Alec (also featured in this edition) in buying out companies.
He founded Capital Equity in 1995, which remains one of the largest private companies in the United States. Headquartered in Los Angeles, CA, the company has offices in New York, Boston, London, and Singapore. Its in-house business development, M&A, transition, legal, real estate, marketing, finance, and operations teams enable us to resolve matters expeditiously.
Capital Equity assists sellers in achieving their divestiture objectives by structuring acquisition solutions. These usually include corporate sellers shedding non-core assets, public sellers seeking to maximize shareholder value, or private sellers seeking capital and operational support. It has also developed alternative deal structures to meet the current capital environment.
Since its founding, in Platinum Equity has completed more than 185 acquisitions in a broad range of market sectors. The current portfolio includes companies in diverse industries, acquired in a range of corporate divestitures, public-to-private transactions, and transactions with private sellers. Each portfolio company operates independently with the goal of creating long-term, sustainable value.
In 2011, Gores and Platinum became owners of the National Basketball Association’s Detroit Pistons. In August, 2016, he purchased Platinum’s stake and became sole owner.
As Forbes reported when Gores first purchased the team, the billionaire is “a sports nut,” who found time amid his busy schedule to coach his daughters’ youth soccer and basketball teams.
In 2016, he launched FlintNow to address the water crisis in Flint, MI.
The 63-year-old Gores, his wife, Holly, and their three children live in Beverly Hills, CA, but also maintain a home in Birmingham, MI. Mrs. Gores, a Michigan native, has longstanding roots in the state and joins her husband’s commitment to community initiatives throughout Michigan.
In January, he pledged to raise $10 million for Flint and at press time had already delivered $1 million of that to that troubled city’s residents.